Drive Wealth Management LLC Invests $74,000 in SSR Mining Inc. (NASDAQ:SSRM)

Drive Wealth Management LLC acquired a new stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,097 shares of the basic materials company’s stock, valued at approximately $74,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new position in shares of SSR Mining during the 2nd quarter worth approximately $3,289,000. Quadrature Capital Ltd increased its position in shares of SSR Mining by 1,318.9% during the first quarter. Quadrature Capital Ltd now owns 668,300 shares of the basic materials company’s stock worth $2,976,000 after purchasing an additional 621,200 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of SSR Mining by 73.7% during the 2nd quarter. National Bank of Canada FI now owns 2,636,902 shares of the basic materials company’s stock valued at $11,815,000 after purchasing an additional 1,118,417 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of SSR Mining by 25.5% in the 2nd quarter. Mackenzie Financial Corp now owns 883,581 shares of the basic materials company’s stock worth $3,992,000 after purchasing an additional 179,601 shares in the last quarter. Finally, Paragon Capital Management Inc. purchased a new position in SSR Mining during the 2nd quarter worth $1,672,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

SSR Mining Trading Up 2.2 %

SSR Mining stock opened at $5.63 on Tuesday. The stock has a 50-day moving average price of $5.85 and a 200 day moving average price of $5.35. SSR Mining Inc. has a 52 week low of $3.76 and a 52 week high of $12.04. The company has a quick ratio of 1.97, a current ratio of 3.91 and a debt-to-equity ratio of 0.08.

Wall Street Analysts Forecast Growth

Separately, UBS Group increased their price target on SSR Mining from $6.30 to $6.80 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.01.

SSR Mining Profile

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.